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JT4SC

52 Posts
Posted - 04/21/2008 :  09:42:56 AM
I have a client looking to purchase a 2.17 Acre lot that is splittable into at least three parcels, possibly four. He has a builder who will build his dream home for free on one of the parcels in exchange for the right to build-out the other 2-3 parcels when the time is right, sell them and keep any profit.

- Land is valued at 550K
- Borrowers new home to be ~4,700 SF, worth approx 1.2M when completed.
- Borrower wants to put as little down as possible, knowing that the eventual LTV after the home is built will be approx. 50%.

- SIVA, 740 FICO

Any suggestions??
JT4SC

52 Posts
Posted - 04/21/2008 :  11:15:08 AM
.
JT4SC

52 Posts
Posted - 04/21/2008 :  2:41:18 PM
someone....anyone????
jloans2003

152 Posts
Posted - 04/22/2008 :  01:03:10 AM
50 ltv all day long....one of the only hard $$ lenders left doing lot loans
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